72-7406. Written obligations for repayment of loans binding upon minors.
72-7406
72-7406. Written obligations for repayment of loans binding uponminors.Any contract, promissory note, or other written obligation made by anyminor to repay or secure payment of a loan in accordance with theprovisions of this act and payment whereof is guaranteed by the state boardof regents, or its contracting agent, or which forms a part of the sametransaction as the making of such loan shall, notwithstanding any provisionof law to the contrary, be as valid and binding as if said person were atthe time of making and executing the same of the age of eighteen (18)years, and they may be enforced in any action or proceeding by or againstsuch person in his or her own name, and shall be valid without the consentthereto of the parent or guardian of such person, and such person shall notdisaffirm such instrument because of his or her age, nor shall any personhereafter interpose the defense that he or she is, or was, at the time ofmaking and executing the same, a minor in any action or proceeding arisingout of any such loan.
History: L. 1967, ch. 389, § 6; L. 1972, ch. 161, § 18; L. 1975,ch. 374, § 18; July 1.